Who Do You Trust?

On Tuesday May 17 a caller asked Trusts Unlimited conference call host Jim George a few questions about hard currency scams like the dinar, dong, rupiah, and zim.  His responses were very telling.

First, Jim claims that his company contracted currency exchanges with a consortium in Kuwait.  He offered no explanation as to how that would have taken place or evidence that it occurred at all.  When pressed on the issue he claimed to have bought Kuwaiti dinars for 10-15 cents (again, no explanation was provided as to how he did that) and later exchanged them for the official value of about $3.40.  If everything else he said on the call sounded legit that might make this story a bit more believable.  Unfortunately it didn’t.

Jim George

Jim George

When asked about the demonetized and completely worthless Zimbabwe dollar he claimed that it would be a great payout if the zim was reintroduced into circulation in Zimbabwe.  The caller asked him if any demonetized currency in history had ever been restored and he admitted that he didn’t know of one, and that’s why he only holds a small position.  It gets worse from there.
When asked about the dong he suggested that China wants the dong revaluation to take place.  Again, no evidence of that.  This is one of those guru “forum facts” that is offered frequently on these calls with absolutely zero substantiation from any legitimate news or business publication.  The fact is Vietnam’s policy for the dong for several years has been a gradual devaluation to strengthen their position in exporting (see chart here), and that has worked quite well for them.  Their GDP has tripled over the past 10-12 years.
Next, Jim states that he also owns rupiah, the currency of Indonesia.  Currently the rupiah’s value is about $.000075, less that 1/10 of the dinar’s value.  Jim’s rationale for owning it is that Indonesia is in “that same general area”.  Huh?  That’s your criteria, that’s it’s near Vietnam?  Why not own the currencies of Thailand, Singapore, or Malaysia?  I think I know why.  There aren’t enough zeros on those currencies.

It seems clear that the pitch from people peddling hard currencies is that the more zeros they have on them, the greater the potential payoff.  Why don’t you ever hear any of these guys pushing the Russian ruble ($.015 – third largest oil producing nation), the Mexican peso ($.055 – the tenth largest oil producer in the world), the Brazilian real ($.286 – the ninth largest oil producer), or the Saudi riyal ($.27 – the second largest)?  There simply aren’t enough zeros on their currencies to sell anybody on the idea of getting rich quick from a revaluation.  Instead, they offer the Iraqi dinar at $.00086, or the rupiah with one more zero than the dinar, or the dong at $.000045, or the zim at ….. well actually it has no value but you can buy a 100 trillion note for about $70 online.

After that, the caller asks Jim about the dinar being a scam.  Jim’s response is that he feels that the sovereign nation-state of Iraq is going to survive, and in order for them to survive they need to have a viable currency.  He doesn’t define “viable” for us, but the implication is obvious.  The fact is, many countries are doing quite well with a currency that holds a low value compared to the US dollar.  I already mentioned Vietnam, but I could also mention South Korea (15th largest economy in the world) whose currency is valued about the same as Iraq’s.  China is the world’s second largest economy and their currency is worth about 15 cents.  Japan is the world’s third largest economy and the yen is worth about a penny.  Any suggestion that Iraq’s economy is being held back by their currency’s value is hogwash and unsupported by any real facts.  Iraq’s economy is being held back by Iraq.  Sectarian division, a history of war and tyranny, a terrorist organization occupying roughly a third of their country, a poor infrastructure, an economy based 90% on oil revenues with little diversity, and widespread political corruption are much more to blame than the value of the currency.
When the caller then asks Jim how the situation in Iraq is similar to what happened in Kuwait, stating that the Kuwaiti situation occurred in a total of about six months (and Iraq was liberated over twelve years ago), Jim states that from the time the Iraqis invaded Kuwait until they were kicked out was about 18 months.  According to Wikipedia the caller was much closer on this one.  It lasted from 2 August 1990 – 28 February 1991, or 6 months, 3 weeks and 5 days.  In Jim’s response he claims that the two situations were similar in that both countries were invaded.  (Kuwait was invaded by Iraq over a border dispute and the invading forces were removed six months later.  Iraq was invaded by a coalition based on Saddam Hussein’s unwillingness to honor his agreement to submit to inspections, and coalition forces remained for eight years and are still there today as advisors.)  How that is relevant I have no idea.  He then says that the IMF de-pegged Iraq’s currency and then devalued it.  Actually, the dinar’s value declined in the 1980s to the point that the zeros were added.  Shabibi himself stated this when he was in Washington in 2011 (start at 5 minutes in).  All you have to do is go to the CBI website and go to the history page and you’ll see that the dinar was valued at 3000 to the dollar as far back as 1995, eight years before Saddam was overthrown.  The IMF had nothing to do with devaluing the dinar.
Jim then claims that the US holds 4 trillion dinar (again, no evidence).  The caller then informs Jim that court documents show that the US isn’t holding dinar (not for investment purposes anyway … that was in point 15 page 5 in the DOJ document regarding the dinar fraud case against the BH Group back in 2013).  Jim recounts the story of a secret agreement from the Bush era.  (Bush has been gone for over seven years, guy.  And this agreement was supposedly from 2003!  Come on!!!)
Jim then states that the petrodollar is disappearing, and Iraq is the one place where you still have to buy oil in US dollars.  In fact, very few nations have attempted to venture away from the petrodollar system.  Iraq is the rule, not the exception to the rule.
The misinformation and/or disinformation provided in this call (Jim also talked about prosperity packages and claimed that we’re moving toward asset backed currencies) should be sufficient to stop any prospective client dead in their tracks, but this is hardly the only trust procurement company spreading such manure.  They all do it.  A few weeks ago I wrote about Adam Montana and Frank Buck doing this back in 2010, and it’s been going on ever since.  Maybe it’s time we turned our attention away from the revaluation scammers and instead focused on the “buy our stuff before the RV” guys.  Yeah, I think we probably should.
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The Gold Delusion

podcast 7Welcome to another Iraq Currency Watch podcast. This episode is called The Gold Delusion. We will take the time to see what our economic leaders say about gold. Once you hear what they have to say then you will understand the gold delusion much better. We cover a number of topics besides gold in this podcast. This is the first podcast containing audio clips and sound bites from outside sources. We will also take a trip down memory lane and discuss the contents of the new book which is now available. A few other surprises await too. The direction of Iraq Currency Watch is discussed as we outline goals and reveal things about our archives. So click play and enjoy.

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Disclaimer

The podcast player may not display if you are using Apple’s Safari browser, but it will display in every other browser. This is a problem that is unique to the Safari browser. At this time we provide no support for this problem.

This page loads fine in every other browser and all aspects of the page are visible. Therefore we recommend that you view this site using a different browser. Chrome, Firefox, Internet Explorer, and the new Microsoft Edge browser all work well with this site and the Podcasts.

We recommend that you download one of these browsers for your Apple computer and use it in place of Safari. This is an issue with Safari. It is not a WordPress or an ICW issue.

Recorded March 18th 2016

Podcast 1Podcast Notes

Before you take the time to leave a comment about your position on gold click on this link below and read up on the subject. If I respond to your comment I may reference some things in this article.

http://blogs.wsj.com/economics/2015/11/12/greg-ip-what-republicans-get-wrong-about-the-gold-standard/

Tales-from-the-GyppedCheck out the new book. Click the link below and get your copy. Scroll to the bottom of the article and click on the download link.

The Iraqi Dinar and the Bible

 

Why The Iraqi Dinar Will Never Revalue Part 2

podcast 7This is the second part of the discussion I had with Sam I Am as to why the dinar can never revalue like the gurus claim. Hold on to your hats and buckle up because now we are going deeper into this subject. We will discuss hidden strengths within the dollar that most people don’t seem to know about and we also talk about the reserves that back the dinar. What actually gives the dinar value? We have already learned that it is not oil.

59336-sam252822529If you are an investor and you were upset with the information in the last Podcast be prepared! This time your cage is really going to be rattled! Sometimes the truth is hard to accept, but we need to see everything in its proper place and in its proper role. So listen at your own risk and don’t shoot the messenger.

5575f-marcusWe will also go into gold and briefly cover the GCR. We will talk about conspiracy theories that keep this scam afloat. There are many aspects to this dinar scam and it is really a complicated mess. So now is your chance to get the facts. Most of this information can be found in my book The Truth About The Coming Global Currency Reset.

podcast 4Disclaimer

The podcast player may not display if you are using Apple’s Safari browser, but it will display in every other browser. This is a problem that is unique to the Safari browser. At this time we provide no support for this problem.

This page loads fine in every other browser and all aspects of the page are visible. Therefore we recommend that you view this site using a different browser. Chrome, Firefox, Internet Explorer, and the new Microsoft Edge browser all work well with this site and the Podcasts.

We recommend that you download one of these browsers for your Apple computer and use it in place of Safari. This is an issue with Safari. It is not a WordPress or an ICW issue.

Recorded on February 18th 2016

podcast 2Remember that you can meet us over at Dinar Daily.  Come talk with Sam or myself. Talk with all the Guru Hunters and get the facts.  If you want more information about the things we talked about check out the book The Truth About The Coming Global Currency Reset. If You want more information about gold and silver click on the Gold and silver links below.

Gold                 Silver

Dinar Daily and TNTBS

Over the years I have seen several dinar forums that allowed and even encouraged openPonee discussion of the dinar investment – lop and all – to their members, but most of those have long since shut down as the forum owner saw the light and moved on.  There is one such site however, that has kept its lights on.  That site is Dinar Daily (www.dinardaily.net).  The site owner Ponee has turned the original home of Okie Oilman into a haven for guru busters.

When I closed down my blog a year ago, one of my devotees who goes by the handle TNTBS took up the cause and went after the likes of DC (TNT Tony’s intel guy) and Dinar Recaps, in addition to dogging Tony all the way to prison.

TNTBSTime and guru fatigue have taken their toll on the dinar community, and they have become increasingly fed up with the lies, obfuscations, distractions, and otherwise disgusting behavior of the devious dinar dirtbags posing as experts.  As a result, more and more people are taking up the cause of outing these jerks and exposing their lies.

In the coming weeks and months I think you can expect to see more gurus opposed, exposed, and deposed as the RV scam encounters its final death throes.  TNTBS is in the process of launching his new site, which will keep you up to date on his success in making life miserable for the scammers.  That site is www.tntbs.net.  Iraq Currency Watch and Dinar Daily will be working alongside of him and the other guru busters as we continue to shine the light of truth into the darkness of the dinar world.

 

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